N. Raghuraman's column: Saving alone won't make you rich...

Often we think that saving money is the only way to get rich, but the reality is different. Recently, I came across the website of Tim Taubman, a British banker, 'thecrazyplan.com'. Tim started this platform in 2024. His claim is exciting: the journey of a novice investor from 'zero' to a 'billionaire'. There is talk of $ 1 billion (more than Rs 9,400 crore), which may seem impossible. But the real beauty of this website lies in the financial education they offer. Warren Buffett (95 years), one of the richest people in the world, has a net worth of more than $ 150 billion (about Rs 1.42 lakh crore). People talk about Buffett's success, but forget the three basic things that made him a 'legend'... This blog contains many references to Buffett's investment principles. Tim says Buffett began to think about what the investment could mean for future generations of his family. Usually an investor takes 30-40 years for the family, but if the same time frame is increased to 80 years, then everyone can become a buffet. Think of it this way: an amount of about Rs 13 lakh can increase to Rs 268 crore in 50 years, but the same amount becomes a huge fund of Rs 18,000 crore in 80 years! Management Tip: Remember, savings can't make you rich and wealth can't happen overnight. It's a long journey. Disciplined investments not only secure the future but also lay a strong foundation for the next generation.